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Crisis Puts Liberalization at Risk,
According to a Top Thai Official

a Wall Street Journal Staff Reporter

Updated Sept. 1, 1998 12:01 a.m. ET

TOKYO -- The Asian economic crisis is constricting trade and risks setting back the region's commitment to additional market liberalization, the deputy prime minister of Thailand warned in an interview.

"Trade flows are contracting. In crisis-hit countries, there has been a drop in imports of around 40%," said Supachai Panitchpakdi, who is also Thailand's minister of commerce. "Total trade is down 20% to 30%. If the crisis spreads and drags on, this will deepen."